Dogecoin (DOGE) and Shiba Inu (SHIB) have recently Binance On March 27, the stock exchange announced that many assets, especially SHIB and DOGE, had received new trading pairs in the Cross and Isolated margin market.
For Dogecoin, the exchange stated that it added the DOGE/USDC pair to its Isolated margin. SHIB/USDC pair was also present in the same market. This announcement meant that investors would now have access to better options as the exchange sought to attract more liquidity to its platform. This development may also affect SHIB and DOGE prices.
Dogecoin (DOGE)
dogecoin Its price remained stable with no positive or negative reaction to the margin listing. According to CoinGecko, meme coin is trading at $0.18. That means it’s about the same value as the last 24 hours.
The 4-hour DOGE/USD chart showed a bearish pattern. This was because the MACD was negative, indicating that the momentum was downward. If the reading of this indicator remains the same, DOGE’s price could drop to the key support at $0.16.
Looking at the broader picture, if the bulls cannot stop the decline, DOGE could decline further towards $0.14. However, the Relative Strength Index (RSI) remained above the neutral line. If buyers maintain this momentum, the bearish forecast may be invalidated and DOGE may continue to hold above $0.18.
Shiba Inu (SHIB)
Unlike DOGE Shiba Inu, its price showed a slight movement, increasing by 2.05% in the last 24 hours. At the time of writing, SHIB’s price was trading at $0.000030. However, SHIB exhibited a similar structure to Dogecoin.
On the other hand, the RSI value is almost the same, indicating that the buying momentum is solid. However, indicators from the Fibonacci retracement suggested that the bulls may lose the $0.000030 hold.
This is because the 0.786 Fib level was at $0.000024. With this position, SHIB’s price may pull back in the short term. However, conditions may change if volatility around the token increases.
If high volatility is accompanied by buying pressure, SHIB has the potential to move towards $0.000035. However, the increased selling volume also risks the price dropping to $0.000022.
